BTO vs. JVLIX

Last updated Jun 4, 2026

BTO (John Hancock Financial Opportunities Fund) and JVLIX (John Hancock Funds Disciplined Value Fund) are both mutual funds - BTO is a Financials Equities fund actively managed by John Hancock, while JVLIX is a Large Cap Value Equities fund managed by John Hancock. Over the past 10 years, BTO returned 9.96%/yr vs 12.71%/yr for JVLIX. A 0.67 correlation means they provide meaningful diversification when combined. BTO charges 2.01%/yr vs 0.76%/yr for JVLIX.

Performance

BTO vs. JVLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Financial Opportunities Fund (BTO) and John Hancock Funds Disciplined Value Fund (JVLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTO achieves a 4.49% return, which is significantly lower than JVLIX's 16.63% return. Over the past 10 years, BTO has underperformed JVLIX with an annualized return of 9.96%, while JVLIX has yielded a comparatively higher 12.71% annualized return.

BTO

• 1D: -2.12%
• 1M: -2.39%
• YTD: 4.49%
• 6M: 7.05%
• 1Y: 13.27%
• 3Y*: 20.35%
• 5Y*: 3.86%
• 10Y*: 9.96%

JVLIX

• 1D: 1.02%
• 1M: 6.70%
• YTD: 16.63%
• 6M: 17.45%
• 1Y: 33.27%
• 3Y*: 21.71%
• 5Y*: 12.57%
• 10Y*: 12.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTO vs. JVLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTO John Hancock Financial Opportunities Fund	4.49%	5.85%	28.92%	-1.16%	-23.58%	61.86%	-8.97%	38.87%	-25.68%	13.12%
JVLIX John Hancock Funds Disciplined Value Fund	16.63%	17.48%	15.59%	13.91%	-4.45%	29.92%	1.59%	22.70%	-9.75%	17.97%

Correlation

The correlation between BTO and JVLIX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jan 3, 1997	0.67

The correlation between BTO and JVLIX shifts across timeframes, from 0.51 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BTO vs. JVLIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTO

BTO Risk / Return Rank: 8
BTO Sharpe Ratio Rank: 8
BTO Sortino Ratio Rank: 8
BTO Omega Ratio Rank: 8
BTO Calmar Ratio Rank: 9
BTO Martin Ratio Rank: 7

JVLIX

JVLIX Risk / Return Rank: 84
JVLIX Sharpe Ratio Rank: 86
JVLIX Sortino Ratio Rank: 81
JVLIX Omega Ratio Rank: 76
JVLIX Calmar Ratio Rank: 88
JVLIX Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTO vs. JVLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Financial Opportunities Fund (BTO) and John Hancock Funds Disciplined Value Fund (JVLIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BTO	JVLIX	Difference
Sharpe ratio Return per unit of total volatility	0.65	2.79	-2.15
Sortino ratio Return per unit of downside risk	1.03	3.82	-2.79
Omega ratio Gain probability vs. loss probability	1.13	1.50	-0.37
Calmar ratio Return relative to maximum drawdown	0.87	4.31	-3.44
Martin ratio Return relative to average drawdown	2.17	18.35	-16.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTO vs. JVLIX - Sharpe Ratio Comparison

The current BTO Sharpe Ratio is 0.65, which is lower than the JVLIX Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of BTO and JVLIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTO	JVLIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	2.79	-2.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.73	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.67	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.37	-0.07

Drawdowns

BTO vs. JVLIX - Drawdown Comparison

The maximum BTO drawdown since its inception was -72.27%, which is greater than JVLIX's maximum drawdown of -59.12%. Use the drawdown chart below to compare losses from any high point for BTO and JVLIX.

Drawdown Indicators

	BTO	JVLIX	Difference
Max Drawdown Largest peak-to-trough decline	-72.27%	-59.12%	-13.15%
Max Drawdown (1Y) Largest decline over 1 year	-15.26%	-7.95%	-7.31%
Max Drawdown (3Y) Largest decline over 3 years	-25.19%	-20.48%	-4.71%
Max Drawdown (5Y) Largest decline over 5 years	-51.80%	-20.48%	-31.32%
Max Drawdown (10Y) Largest decline over 10 years	-65.70%	-40.33%	-25.37%
Current Drawdown Current decline from peak	-7.74%	0.00%	-7.74%
Average Drawdown Average peak-to-trough decline	-19.00%	-10.52%	-8.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.13%	1.86%	+4.27%

Volatility

BTO vs. JVLIX - Volatility Comparison

John Hancock Financial Opportunities Fund (BTO) has a higher volatility of 5.15% compared to John Hancock Funds Disciplined Value Fund (JVLIX) at 3.87%. This indicates that BTO's price experiences larger fluctuations and is considered to be riskier than JVLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTO	JVLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	3.87%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	14.97%	9.69%	+5.28%
Volatility (1Y) Calculated over the trailing 1-year period	20.62%	12.27%	+8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.35%	17.32%	+14.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.13%	18.90%	+17.23%

BTO vs. JVLIX - Expense Ratio Comparison

BTO has a 2.01% expense ratio, which is higher than JVLIX's 0.76% expense ratio.

Dividends

BTO vs. JVLIX - Dividend Comparison

BTO's dividend yield for the trailing twelve months is around 7.23%, more than JVLIX's 5.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTO John Hancock Financial Opportunities Fund	7.23%	7.41%	7.28%	8.64%	7.51%	4.72%	7.25%	6.06%	5.94%	3.76%	5.10%	4.75%
JVLIX John Hancock Funds Disciplined Value Fund	5.69%	6.64%	13.97%	7.22%	7.16%	14.63%	1.57%	5.87%	10.59%	4.60%	1.22%	3.44%

Frequently Asked Questions

Can I hold both BTO and JVLIX in my portfolio?

BTO and JVLIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTO or JVLIX?

BTO has higher volatility (5.15%) compared to JVLIX (3.87%). In terms of maximum drawdown, BTO dropped -72.27% vs JVLIX's -59.12%.

Which has better risk-adjusted returns?

JVLIX currently has the higher Sharpe Ratio (2.79 vs 0.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.